Flipkart report losses of Rs 2,306 crores in FY 16

For financial year 2015-16, Flipkart Internet reported total revenue of about Rs 1,952 crore, which also rose more than two times from Rs 772.5 crore in financial year 2014-15.ETRetail | November 26, 2016, 09:54 IST

(Photo: Getty Images)New Delhi: India's biggest e-commerce company Flipkart has reported a net loss of Rs 2,306 crore for the year ended March 31, 2016, according to company’s filing with the registrar of companies. The losses doubled from Rs 1,096 crore during FY15, reported 'The Financial Express.'

According to the report, for financial year 2015-16, Flipkart Internet reported total revenue of about Rs 1,952 crore, which also rose more than two times from Rs 772.5 crore in financial year 2014-15.

In financial year 2014-15, leading e-commerce companies Amazon, Flipkart, Snapdeal collectively reported total losses of Rs 5,000 crore on back of heavy discounting and large marketing and promotional expenditure, the report further said.

Sponsored Stories

Subscribe to our Newsletters

The move is expected to give Domino's an edge over rival pizza brands and QSR chains, but some experts warned that it may prove to be a tough promise to live up to and raised concern that it would put unnecessary pressure on delivery boys.